Fri.Jun 07, 2024

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Homeowners sitting on a pile of cash with $17T in home equity: CoreLogic

Housing Wire

Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 trillion in equity over the past year, according to a CoreLogic report released Friday. The average U.S. homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022.

Equity 462
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After backlash, Bing is removing MLS listings

Real Estate News

Industry leaders began sounding the alarm last week after seeing unlicensed data on a portal-like section of Microsoft’s search engine.

MLS 274
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U.S. job creation exceeds forecasts, signals delays in rate cuts

Housing Wire

Job creation that exceeded expectations in May has reinforced the perception that the Federal Reserve will maintain the same benchmark interest rates at its June meeting and may delay any rate cuts that were planned for this year. This means that mortgage rates are likely to be higher for even longer than previously expected. The U.S. economy added 272,000 jobs in May, above the market consensus estimate of 180,000.

Mortgages 461
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US homeowners saw equity soar to near-record highs

Real Estate News

According to a new CoreLogic report, the typical homeowner saw their home equity increase by $28,000 over the past year.

Equity 271
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The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.

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86% of consumers say it’s a bad time to buy a house: Fannie Mae

Housing Wire

Consumer attitudes toward the purchase of a home fell “markedly” in May, while the percentage of consumers who said it was a “bad” time to buy a home grew month over month from 79% to 86%, according to new survey data from government-sponsored enterprise (GSE) Fannie Mae. The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 2.5 points in May to 69.4, marking an all-time low in the measurement of consumer sentiment toward homebuying.

Mortgages 445
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‘Frustration’ a theme as homebuyer sentiment craters

Real Estate News

Fannie Mae’s sentiment index hit a new low in May, with only 14% saying now is a good time to buy a home, but sales activity is expected to increase.

Sales 235

More Trending

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Company joins in appeal of commissions settlements

Real Estate News

In a previous objection, Spring Way — a former plaintiff in a copycat case — said the amount paid by Anywhere, RE/MAX and KW won’t cover all “injured parties.

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How to get listings in real estate: 11 proven strategies for 2024

Housing Wire

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Listings are the life-blood of all successful real estate businesses, but making the leap from working primarily with buyers to working with sellers can be a challenge for many agents early in their careers.

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Microsoft removes portal data from Bing Real Estate after outcry

Inman

Four days after Bing Real Estate came under fire for its alleged co-opting of listing data from Zillow, Redfin and Realtor.com, Microsoft has removed for-sale listing data from its site.

Sales 183
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Some title insurance policies protect against home title theft. Does yours?

Housing Wire

When the man served Donna (not her real name) with a notice of eviction, she hid for a while under the comfort of complete denial. It didn’t make sense to her because she had owned the home for almost three decades. How was this even possible? She later discovered that unknown fraudsters had forged and filed documents to make it look like her house had been sold at a foreclosure sale.

Title 393
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Mortgage rates are spiking on Friday’s blowout jobs report

Inman

Employers added 272,000 jobs in May, far exceeding the consensus view among economists that payrolls would rise by 180,000 and the average of 232,000 over the past year.

Mortgages 165
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Fintech lender LoanSnap evicted, faces financial and legal turmoil

Housing Wire

Legal and financial troubles are piling up for mortgage fintech lender LoanSnap , with the company having been recently evicted from its headquarters in Southern California. The news was previously reported this week by TechCrunch. TechCrunch reported on Monday that while “LoanSnap has not yet shut down, according to two employees, the vibe inside the company is harrowing as workers wait for clarity on the company’s future.“ The firm reportedly failed to pay employees for at least a month late l

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27 performance metrics to start tracking this weekend

Inman

Not sure what challenges and opportunities are coming your way? Coach Darryl Davis provides the numbers to crunch so that you always know what's going on in your real estate business.

Brokerage 161
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Engel & Volkers adds chief growth officer in Atlanta

Housing Wire

Engel & Volkers Atlanta , a luxury real estate brokerage, announced Thursday that Christopher Burell is joining the firm as its new chief growth officer. Burell has 20 years of prior experience in the metro Atlanta real estate scene. He previously served in executive and broker roles for several leading firms in the area. In announcing the hire, Engel & Volkers said that Burell has “earned an esteemed reputation as a real estate industry leader, combining his dynamic leadership style and

Brokerage 357
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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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RealReports unwinds property DNA: Tech Review

Inman

RealReports goes beyond beds, baths and budget with an AI-backed solution for helping real estate agents better understand how what's around and in a home impacts its value.

Agents 158
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Nearly one quarter of retirement age adults are still working

Housing Wire

A myriad of positive and negative developments in the lives of older adults — including higher living costs, inflation , longer life expectancies and higher education levels — have led to a rise in the number of retirement-aged adults remaining in the U.S. workforce according to new government data analyzed by LendingTree. The analysis was based on U.S.

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Residential marketplace newbie Realoq expands to 3 new states

Inman

California-based, "multi-sided" residential portal Realoq has expanded to Florida, Georgia and North Carolina. The company raised $3 million in seed funding in 2023.

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Josh Team: Change is an opportunity for new industry leaders to emerge

Housing Wire

The past few years have not been easy for Josh Team as personal health challenges forced him to take a step back from his role at Keller Williams. But Team said the time away gave him a chance to reflect on the kind of work he gets the most enjoyment from. And when Ryan Serhant approached Team to join his eponymous brokerage, Team said he was excited to jump into a new challenge.

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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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Clarence Thomas reports more trips with developer Harlan Crow

Inman

The trips were to the Indonesian island of Bali and the secretive, all-male club known as Bohemian Grove in Northern California.

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Newrez to lay off 317 employees in Colorado

Housing Wire

Another round of layoffs hit hundreds of Newrez employees in Colorado, the second so far this year in the state. It follows the the lender’s recent acquisition of Computershare Mortgage Services and its affiliate Specialized Loan Servicing (SLS). Newrez, owned by asset manager Rithm Capital , is imposing a workforce reduction of 317 employees at its Greenwood Village, Colorado, facility, a former SLS location.

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Recruiting wars continue as Coldwell nabs Compass agent

Inman

Vicky Yu closed more than $63 million in sales last year. Her move to Coldwell Banker comes as brokerages continue an intense competition for top talent.

Agents 158
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Wholesale lender OCMBC calls lawsuit from HMAC ‘baseless’

Housing Wire

Wholesale lender OCMBC Inc. , which was recently sued by direct lender Home Mortgage Alliance Corp. (HMAC) over the alleged poaching of both key personnel and a wholesale lending brand, issued a statement this week that called the allegations “baseless” and added that any employment changes have been made “independently and lawfully.” The case was first reported by National Mortgage News.

Branding 319
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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Ben Bray & Associates joins Better Homes and Gardens Real Estate

Inman

Ben Bray & Associates, a 27-year-old Tennessee brokerage, is the sixth to join Better Homes and Gardens Real Estate in 2024. The Lafayette-based brokerage boasts 28 agents across two offices.

Brokerage 133
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Neighbors Organize Against Deed Theft, Call Out Investors Who Target Heirs

Brownstoner

On a recent Saturday, a crowd of around 50 people gathered outside 212 Jefferson Avenue in Bed Stuy to hold a mock trial against property speculator brothers Joseph and Elliot Ambalo, and others who target elderly or vulnerable homeowners in predominantly Black and brown neighborhoods. The mock trial, which included… Read More > The post Neighbors Organize Against Deed Theft, Call Out Investors Who Target Heirs appeared first on Brownstoner.

Investor 129
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Barry Sternlicht: Rents will go up, and it’s Jerome Powell’s fault

Inman

The billionaire head of Sternwood Capital blamed Federal Reserve chief Jerome Powell's interest rate campaign for killing activity in the multifamily sector.

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Homeowner Equity Spikes to All-Time High of $17 Trillion

RIS Media

In CoreLogic’s latest Homeowner Equity Report for the first quarter of 2024 released June 6, U.S. homeowners with mortgages (which account for roughly 62% of all properties) saw home equity increase by 9.6% year-over-year, representing a collective gain of $1.5 trillion and an average increase of $28,000 per borrower since the first quarter of 2023.… The post Homeowner Equity Spikes to All-Time High of $17 Trillion appeared first on RISMedia.

Equity 119
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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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Appeals, agency and appointments: It’s Inman’s Top 5

Inman

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

Brokerage 133
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Mortgage Mix: Rates Slightly Down, Memorial Weekend Saw Application Adjustment

RIS Media

Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. As reported by Freddie Mac, mortgage rates have “pulled back.” After being above 7% the final week of May, the first week of June saw the 30-year rate slip down to 6.99%, while the 15-year… The post Mortgage Mix: Rates Slightly Down, Memorial Weekend Saw Application Adjustment appeared first on RISMedia.

Mortgages 116
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Advice for a Smooth Buying Process (From an Experienced Real Estate Investor)

Bigger Pockets

A well-defined buying process is vital for real estate investing. It reduces risks, avoids costly delays, and facilitates quick property acquisition once a suitable property is found.

Investor 115
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My Secret Weapons: 7 Resources to Stay Up to Date on Social Media Changes

BAM Media

A lot of people ask me, “Eric, how do you stay up to date on all the changes that occur on social? How do you know so much about the Instagram algorithm, and how are you so jacked?” JK, nobody asks me that. But, I do imagine people wonder… So, in this blog I’m going to give you seven resources I use to stay up to date on all things social media: #1—Social Media Today SMT is a website/blog that fires out helpful updates like this all day every day: Source: Social Media Today If there’s an update

Agents 111
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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.